Trump threatens to impose 10% tariff on additional $200bn-worth Chinese-goods
US President Donald Trump escalated a trade war with China today, asking his administration to identify a new list of $200bn worth of Chinese goods to be penalized with 10% tariff. The move followed 25% tariffs applied on $50bn in Chinese imports to the US, designed to curb China's unfair trade practice. Tariffs were quickly matched by China on US goods, too. Here's more.
Will further impose tariff on another $200bn goods, warns Trump
Trump said that if China retaliates to this fresh round of tariffs yet again, then he will move to counter "by pursuing additional tariffs on another $200 billion of goods". The trade relationship between the United States and China must be much more equitable, he said, adding that he was pushing the fresh punitive measures over Beijing's "unacceptable" move to raise its own tariffs.
Trump says he has an excellent relationship with Xi Jinping
Trump said, "I have an excellent relationship with President Xi...we'll continue working together on many issues. But the US will no longer be taken advantage of on trade by China and other countries." "China...has no intention of changing its unfair practices related to acquisition of American intellectual property and technology. It's now threatening US companies, workers, farmers who have done nothing wrong," he added.
Trump takes measures after months of fraught shuttle diplomacy
Trump moved forward with measures after months of sometimes fraught shuttle diplomacy in which Chinese offers to purchase more American goods failed to assuage his grievances over the soaring trade imbalance and China's aggressive industrial development policies.
